Las-Vegas situated Station Casinos LLC has entered into an agreement to acquire a majority stake of 51 percent in Fertitta Interactive LLC for an undisclosed consideration.
A company statement said the Company believes Fertitta Interactive is well positioned to become a leader in online gaming by leveraging existing capabilities and platform as well as its exclusive relationship with the Ultimate Fighting Championship (UFC).
Fertitta Interactive was formed in 2011 with the purchase of Cyber-Arts, an Oakland, California based company, which has developed a real money and social gaming platform under the Ultimate Gaming brand. The Cyber-Arts technology provides a proprietary, highly scalable and robust platform that has a proven track record in the global online marketplace.
Marc Falcone, Executive Vice President and Chief Financial Officer commented on the deal saying: “This technology represents one of the few established online poker platforms in the world that has never taken wagers from a jurisdiction in which such wagers were illegal.
“It is critically important to us that we own the technology, which allows us to control the perpetual innovation cycle. We are one of the only U.S. gaming companies to develop and own its technology. We are excited about the possibilities that Ultimate Gaming presents and believe this creates a long-term value driver for Station Casinos.”